Apple eyes McLaren takeover talks

Apple could be on the verge of its long-mooted move into vehicles, after the tech giant approached McLaren Technology Group about a potential acquisition.

Sources told the Financial Timesthat Apple is considering both a full takeover of the British engineering company and F1 team owner, and a strategic acquisition – and that talks had been ongoing for several months.

The FT’s sources said McLaren, which is loss-making, would be valued at between £1bn and £1.5bn; a figure in this region would make it Apple’s biggest spend since it bought Beats Electronics for $3.2bn (£2.47bn) in 2014.

Apple’s apparent project to create a car of its own is one of the most heavily discussed in the tech world but, while its development is widely believed to be a reality, no details are known.